What kind of info is on the magnetic strip on credit cards?
Magnetic strip holds all the juice about your account information.It hold the infomation about the bank your account is in,your account infomation like credit and balance along with last purchase details.It requires the card reader to decipher the stuffs written in code and magnetic film.It works on a technology known as OLTP,online transcation processing where your magnetic card just acts as a key to your account and it unlocks your account to do transaction when you swipe in and insert the pin.Once you are done with the transaction,it records the last transaction on the film and preserves your account information in coded format. Note:Your Credit card has no connection with teh server.Many people believe that Cedit cards are related related to server just like cellphone simcards.The reality is it’s just a key to your account and it helps you link to the server and transact based on online transaction processing technique.In other words,it’s just like a key to your treasury.
